Mississippi Litigation Review & Commentary

Mississippi Litigation Review & Commentary

Comments on the Latest Developments in Mississippi Civil Litigation

Philip is a trial attorney based in Jackson, Mississippi with a diverse civil litigation practice.

Category Archives: Madison Timber Ponzi Scheme

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Drug Dealers are Businessmen — Ponzi Schemers are Thieves

Posted in Madison Timber Ponzi Scheme
The Clarion-Ledger reported that con man and thief Lamar Adams was sentenced to 19.5 years in prison: Former Madison County businessman Arthur Lamar Adams was sentenced Tuesday to 19½ years in prison for his $100 million Ponzi scheme… Investors didn’t know Adams’ business, Madison Timber Properties, was a Ponzi scheme, prosecutors said. He promised the… Continue Reading

Receiver Files First Madison Timber Third-Party Action

Posted in Madison Timber Ponzi Scheme
The receiver in the Madison Timber ponzi scheme filed the first third-party action yesterday. It’s a doozy. Here’s the Complaint filed against Michael Billings, Terry Kelly, Jr., William McHenry, Jr. and related entities. It’s a good read. The Complaint alleges Defendants received $16 million in Madison Timber commissions. I repeat, $16 million! The Receiver also… Continue Reading

Madison Timber: Receivers and Clawbacks

Posted in Madison Timber Ponzi Scheme
The winners in the Madison Timber ponzi scheme might not be winners for long. This Miss. Business Journal article by Jackson attorneys Win Gault and Spencer Ritchie discuss clawback actions to recover money paid out to ‘investors.’ Clawbacks are bad news for early investors who think they dodged a bullet by getting out. Meanwhile, Kingfish… Continue Reading